World stocks soaring

World stocks hit a 12-month high on Wednesday, thanks to better than expected results from US corporate like Intel and JPMorgan, reports Reuters. MSCI’s all-country world index increased 1.1 percent to 295.32, a level which was last seen in October 2008. The index has gained more than 70 percent since it hit a six-year low in March this year.

European shares also increased 2.2 percent on the day to 1,017.75, their highest in a year, says the report.